Pula, a leading Agricultural technology that develops and deploys crops and livestock insurance, in partnership with APA Insurance announced KSh85.1 million as the initial payout to 13,523 insured farmers in the Coast region for losses incurred during the 2021 March to May season.
The farmers were drawn from Kwale, Taita Taveta, and Kilifi counties that had cultivated cowpeas, green grams, sorghum, and maize.
“The payout, made through lead insurer APA Insurance, targeted farmers participating in the KCEP-CRAL Program established by the Government of Kenya with support from European Union, IFAD, and FAO,” Pula Advisors said in a statement.
The KCEP-CRAL is an expansion to the arid and semi-arid lands (ASALS) of the Kenya Cereal Enhancement Programme (KCEP).
The programme became effective in April 2014 through a partnership between the Government of Kenya (GoK), the European Union (EU), and the International Fund for Agricultural Development (IFAD).
KCEP-CRAL’s overall development objectives are to contribute to national food security and smallholder income generation by supporting farmers to increase the productivity and profitability of key cereal commodities – maize, sorghum, millet, and associated pulses.
In the four counties, the AreaYield Index product was developed by Pula to protect smallholder farmers from risks such as floods, drought, diseases, and pests.
“Due to effects of climate change, farmers have to contend with unpredictable rain patterns, frequent droughts, and even the emergence of new pests,” said Rose Goslinga chief executive and co-founder of Pula Advisors in a statement.
APA Insurance is the lead insurer and Pula is the service provider who designed the AreaYield Index product and did risk assessment to determine the claims for the smallholder farmers.
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